I'll kick off this article by saying I did not buy $10,000 worth of this booming S&P/ASX 200 Index (ASX: XJO) gold stock three years ago.
Or even $100 worth.
But I wish I had!
The outshining Aussie gold miner in question is Ora Banda Mining Ltd (ASX: OBM).
Image source: Getty Images
Ora Banda Mining shares leaping ahead of the pack
Three years ago, on 26 May 2023, I could have picked up Ora Banda shares for just 13 cents each.
Of course, back then it wasn't an ASX 200 gold stock yet. With its share price and market cap swelling, Ora Banda only joined the ASX 200 in December 2025 as part of the S&P Dow Jones Indices quarterly rebalance.
In either case, three years ago, I could have bought 76,923 shares with my $10,000 investment.
Now, in late afternoon trade on Friday, the Ora Banda share price stands at $1.32.
Meaning those 76,923 shares I bought just three years ago are now worth a jaw-dropping $101, 538, representing a gain of 915.4%.
For some context, the ASX 200 has gained 20.9% over this same time.
If only I could get that darn time machine working!
What's been sending the ASX 200 gold stock rocketing?
The first tailwind we should acknowledge is the surging gold price. Trading for US$4,527 per ounce on Friday, the gold price is up 133% over the last three years, according to data from Bloomberg.
Indeed, this sees the S&P/ASX All Ordinaries Gold Index (ASX: XGD) up 139.6% since 26 May 2023.
But Ora Banda Mining shares have left those gains in the dust.
That's been driven by the miner's strong growth metrics.
At its half-year results (H1 FY 2026), the ASX 200 gold stock reported record revenues of $336.3 million, up 80% year on year.
And earnings before interest, taxes, depreciation and amortisation (EBITDA) were up by 106% from H1 FY 2025 to $173.2 million.
The strong performance was driven by record half-year gold sales of 62,583 ounces, up 31% year on year.
On the bottom line, Ora Banda reported a net profit after tax (NPAT) of $96.3 million, up 89%.
And, just this week, the ASX 200 gold stock updated the market on its 'Drive to 300' initiative. This is the miner's plan to double gold production over the next three years, though management noted that this goal may not be achieved.
Ora Banda managing director Luke Creagh noted:
This doubling of production is currently expected to be capable of being internally funded and has the potential to add material value and position Ora Banda as a long-term sustainable gold business.
